Hyman Charles D Sells 150 Shares of Salesforce, Inc. (NYSE:CRM)

Hyman Charles D reduced its stake in shares of Salesforce, Inc. (NYSE:CRM) by 0.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,459 shares of the CRM provider’s stock after selling 150 shares during the quarter. Hyman Charles D’s holdings in Salesforce were worth $5,647,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fisher Asset Management LLC raised its position in shares of Salesforce by 5.3% during the fourth quarter. Fisher Asset Management LLC now owns 14,921,042 shares of the CRM provider’s stock worth $3,926,323,000 after acquiring an additional 752,566 shares during the last quarter. Northern Trust Corp raised its holdings in Salesforce by 1.1% during the 3rd quarter. Northern Trust Corp now owns 11,195,108 shares of the CRM provider’s stock worth $2,270,144,000 after purchasing an additional 121,436 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Salesforce by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,397,516 shares of the CRM provider’s stock valued at $1,420,302,000 after purchasing an additional 145,625 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Salesforce by 7.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 4,678,330 shares of the CRM provider’s stock valued at $948,676,000 after purchasing an additional 309,881 shares during the last quarter. Finally, Cerity Partners LLC grew its position in shares of Salesforce by 1,254.7% during the 4th quarter. Cerity Partners LLC now owns 3,483,670 shares of the CRM provider’s stock worth $916,693,000 after buying an additional 3,226,512 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Performance

Shares of Salesforce stock traded up $1.58 during trading on Tuesday, reaching $277.21. The company’s stock had a trading volume of 3,507,109 shares, compared to its average volume of 5,527,244. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The business’s 50-day moving average price is $293.29 and its 200-day moving average price is $267.99. Salesforce, Inc. has a 52 week low of $193.68 and a 52 week high of $318.71. The firm has a market cap of $268.34 billion, a PE ratio of 66.00, a P/E/G ratio of 2.10 and a beta of 1.30.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The firm had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter in the previous year, the firm posted $1.01 EPS. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. Equities analysts forecast that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a yield of 0.58%. Salesforce’s payout ratio is 9.52%.

Insider Buying and Selling

In other Salesforce news, CAO Sundeep G. Reddy sold 2,425 shares of the company’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total transaction of $662,388.75. Following the completion of the sale, the chief accounting officer now directly owns 5,856 shares in the company, valued at $1,599,566.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Sundeep G. Reddy sold 2,425 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total value of $662,388.75. Following the sale, the chief accounting officer now directly owns 5,856 shares in the company, valued at approximately $1,599,566.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Amy E. Weaver sold 7,075 shares of Salesforce stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $309.32, for a total transaction of $2,188,439.00. Following the sale, the chief financial officer now directly owns 38,483 shares in the company, valued at $11,903,561.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 634,993 shares of company stock worth $185,373,074. Corporate insiders own 3.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Oppenheimer increased their price objective on shares of Salesforce from $300.00 to $325.00 and gave the company an “outperform” rating in a report on Monday, February 12th. KeyCorp assumed coverage on Salesforce in a research note on Thursday, March 21st. They issued a “sector weight” rating for the company. Bank of America lifted their price objective on shares of Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. TheStreet upgraded shares of Salesforce from a “c+” rating to a “b-” rating in a report on Friday, January 19th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $350.00 price objective (up previously from $325.00) on shares of Salesforce in a research report on Friday, April 12th. Nine analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and a consensus price target of $310.61.

Salesforce Company Profile

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.